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How  Business 

with  Foreign  Countries 

is  Financed 


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uaranty  Trust  Company  of  New  York 


How  Business 

with  Foreign  Countries 

is  Financed 


1916 

Guaranty  Trust  Company  of  New  York 

<  ■ 

140  Broadway 

Fifth  Avenue  Office:  Fifth  Avenue  and  43d  Street 
London  Office:  33  Lombard  Street,  E.  C. 


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The 
Financing  of  Foreign  Business 

THE  foreign  business  of  the  United  States  has  experi- 
enced large  development  during  the  past  few  years, 
and  is  assuming  an  ever  increasing  importance  in  the 
activities  of  our  commercial,  financial,  and  industrial 
organizations. 

For  this  reason  we  have  prepared  this  booklet,  which 
contains  facsimiles  of  the  forms  most  generally  used  in 
connection  with  foreign  exchange  transactions. 

We  hope  that  it  may  prove  interesting  and  valuable 
to  bankers,  manufacturers  and  merchants  now  engaged 
in  foreign  trade,  as  well  as  to  those  who  contemplate 
entering  this  special  line  of  business. 

Guaranty  Trust  Company  of  New  York 


342353 


List  of  Forms 


Banker's  Demand  Draft  on  Foreign  Countries  (Sterling) 

Banker's  Demand  Draft  on  Foreign  Countries  (Francs) 

Banker's  Demand  Draft  on  Foreign  Countries  (Reichsmark) 

Banker's  Time  Drafts  on  Foreign  Countries 

Advice  of  Drafts  to  Foreign  Correspondents 

Order  for  Cable  Payment 

Statement  of  amount  due  on  account  of  Cable  Transfer  sold 

Form  for  Confirmation  of  Purchase  of  Cable  Transfer 
in  Foreign  Currency 

Commercial  Time  Draft  drawn  on  a  London  Bank  to  cover 
a  shipment  of  cotton  from  Galveston  to  Liverpool 

Specimen  of  Ocean  Bill  of  Lading 

Specimen  of  Ocean  Bill  of  Lading 

Marine  Insurance  Certificate 

War  Risk  Certificate 

Advice  of  Sterling  Remittances  to  our  London  Correspondents 

Commercial  Draft  for  Export  of  Merchandise  to  British  Colonies 
Stipulating  that  all  Costs  are  to  be  Paid  by  the  Consignees 

Ordinary  Commercial  Drafts  in  Dollars  for  Export  of  Merchandise 
from  this  Country  to  South  America 

Consular  Invoice  for  Shipment  of  Merchandise  from  the 
United  States  to  Cuba 

Advice  of  Remittance  to  Foreign  Correspondents 

Traveler's  Letter  of  Credit  (Front).     Reimbursement  through 
Dollar  Drafts  on  New  York 


PAGE 

1 


3 
4 
5 

6 

7 


8 

9 
10 
opposite  10 
11 
12 
13 

14 

15 

16 
17 

18 


List  of  Forms 


PAGE 

Traveler's  Letter  of  Credit  (Back).     Showing  how,  where  and  what 

amounts  beneficiary  has  collected  19 

Traveler's  Letter  of  Credit  (Front).     Reimbursement  through 

Sterling  Draft  on  our  London  Office  20 

Traveler's  Letter  of  Credit  (Back).     Showing  how,  where  and  what 

amounts  beneficiary  has  collected  21 

Commercial  Letter  of  Credit  payable  in  Dollars  23 

Draft  drawn  against  Dollar  Commercial  Letter  of  Credit  after 

presentation  in  New  York  and  acceptance  by  the  Bank  26 

Commercial  Letter  of  Credit  available  by  drawings  in  Sterling 

on  London  29 

Draft  drawn  against  Sterling  Letter  of  Credit  after  acceptance 

by  the  London  Bank  32. 

Form  of  Bank  Acceptance  not  based  on  Imports  or  Exports 

of  the  United  States  33 

Acceptance  Agreement  34 

Trust  Receipt  (To  exchange  documents  againt  Ocean  Bills  of  Lading)       38     / 

Trust  Receipt  (Documents  for  Warehousing)  39 

Trust  Receipt.     ( This  form  of  Trust  Receipt  is  used  when  the 

merchandise  is  to  be  held  by  the  customer)  40 

Trust  Receipt  (For  delivery  to  purchaser)  41 

Bailee  Receipt  42 

Currencies  of  Various  Countries  in  the  World  and  their  Value 

in  United  States  Dollars  45 


How  Business  with  Foreign  Countries  is  Financed 


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Banker's  Demand  Draft  on  Foreign  Countries 

[  FRANCS  ] 

[  Note  ]  The  French  law  requires  that  the  date  of 
sight  drafts  or  checks  be  written  in  words  in  order 
to  exempt  them  from  the  full  bill-stamp  tax. 


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Banker's  Demand  Draft  on  Foreign  Countries 

[  REICHSMARK  ] 

[  Note  ]  The  German  law  requires  that  the  phrase 
"out  of  our  credit  balance"  or  its  equivalent  be 
inserted  in  sight  drafts  or  checks,  to  exempt  them 
from  the  full  bill-stamp  tax. 


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P  Guaranty  Trust  Company  of  New  York 

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to  Guaranty  Tmsl  Company  of  Newark 

33  I.OMHAHD  Street,  ■***"' 

XVAU375  LONDON 


Banker's  Time  Drafts  on  Foreign  Countries 


[5  ] 
Guaranty  Trust  Company  of  New  York 

New  York 


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Dear  Sir: 


The  following  drafts,  please  protect  to  our  debit  with  your  office  at  u 


Date 

No. 

In  Favor  of                      ** 

Time 

Amount 

Remarks 

•5 

A 

BEL 

P 

Advice  of  Drafts  to  Foreign  Correspondents 


[6] 


Guaranty  Trust  Company  of  New  York 

ORDER  FOR  CABLE  PAYMENT 

New  York, 


191 


Through. 


Payable  to_ 


Account  of_ 


_at_ 


Cable  charges 
Broker 


To  Buyer. 


Authorized 


Order  for  Cable  Payment 


171 
Guaranty  Trust  Company  of  New  York 

FOREIGN  DEPARTMENT 

New  York, 19 

To 


In  making  a  cable  transfer  it  is  fully  understood  and  agreed  that  no  liability  shall  attach  to  us  nor  to  our 
correspondents  for  any  loss  or  damage  in  consequence  of  any  delay  or  mistake  in  transmitting  the  message,  or 
for  any  cause  beyond  our  control. 


CABLE  TRANSFER 

Payable  to 


On  account  of  _ 


Cable  Charges, 


.©- 


Total,  $_ 


Payment  will  be  effected  by_ 


Statement  of  amount  due  on  account  of  Cable  Transfer  sold 


18] 


Guaranty  Trust  Company  of  New  York 

FOREIGN  DEPARTMENT 


New  York, 191 


To. 


We  beg  to  confirm  having  bought  from  you  Cable  Transfer 
_@ through   M 


Please  have  payment  made  to_ 


on  our  account,  and  advise  us  through  whom  payment  will  be  made. 

GUARANTY  TRUST  COMPANY  OF  NEW  YORK. 

Cash  \ 


New  York 


Form  for  Confirmation  of  Purchase  of  Cable  Transfer 
in  Foreign  Currency 


9] 


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Commercial  Time  Draft  drawn  on  a  London  Bank  to  cover  a 
shipment  of  cotton  from  Galveston  to  Liverpool 

To  this  draft  are  attached  the  various  shipping 
documents  representing  the  Cotton ;  these  are 
delivered  to  the  bank  in  London  against  its  accept- 
ance of  the  draft. 


[  10  ] 


from... 


ReCeiVed     la   apparent   good   order   and   condition    by    AGENTS    OF    RED     "D"     LINE  OF  S.    S. 

, „ ,  to  be  transported  by  the  steanuhip 

now  lying  in  the  port  of  NEW  YORK,  and  bound  for_.„„ „ 


with   liberty  to  call  at  any  port  or  ports  in  the  Schedule,  without  regard  to  the  order  specified;  and  to  call  at  that  or  other  ports  in  the  Schedule 
to  land  passengers  and  mails,  and  afterwards  return  to  land  cargo;   or  failing  shipment  by  said  steamer,  in  and  upon  a  following  steamer. 


*3* 


fcSa 


being  marked  and  numbered,  as  per  margin,  shipper's  weight   (quality,  quantity,  gauge,  contents,  weight  and  value  unknown),  and  to  be  delivered 

iu  like  good  order  and  condition,  at  the  port  of „„ ___„_ _.. 

...or  to  his  or  their  assigns,  ha  or 


they  paying  freight,  primage  and  charges  immediately  on  discharge  of  the  goods,  without  any  allowance  of  credit  or  discount,  on  the  gross  intaken 
weight  or  measurement  as  per  margin,  or  as  may  otherwise  result  on  verification  of  same  at  port  of  destination. 

IT  IS  MUTUALLY  AGREED  that  the  steamer  shall  have  liberty  to  Bail  with  or  without  pilots;  that  the  carrier  shall  have  liberty  to  convey 
goods  iu  craft  and/or  lighters  to  and  from  the  steamer  at  the  risk  of  the  owners  of  the  goods;  and,  in  case  the  steamer  shall  put  into  a  port  of 
refuge,  or  be  prevented  from  any  cause  from  proceeding  in  the  ordinary  course  of  her  voyage,  to  transship  the  goods  to  their  destination  by  any 
other  steamer;  that  the  carrier  shall  not  be  liable  for  loss  or  damage  occasioned  by  perils  of  the  sea  or  other  waters,  by  fire  from  any  cause  or 
wheresoever  occurring;  by  barratry  of  the  master  or  crew;  by  enemies,  pirates  or  robbers;  by  arrest  or  restraint  of  princes,  rulers  or  people,  riots, 
strikes  or  stoppage  of  labor;  by  explosion,  bursting  of  boilers,  breakage  of  shafts,  or  any  latent  defect  in  hull,  machinery  or  appurtenances,  or 
unseaworthiness  of  the  steamer,  whether  existing  at  time  of  shipment,  or  at  the  beginning  of  the  voyage,  provided  the  owners  have  exercised  due 
diligence  to  make  the  steamer  seaworthy;  by  heating,  frost,  decay,  putrefaction,  rust,  sweat,  change  of  character,  drainage,  leakage,  breakage, 
vermin,  or  by  explosion  of  any  of  the  goods,  whether  shipped  with  or  without  disclosure  of  their  nature,  or  any  loss  or  damage  arising  from  the 
nature  of  the  goods  or  the  insufficiency  of  packages;  nor  for  inland  damage;  nor  for  the  obliteration,  errors,  insufficiency  or  absence  of  marks, 
numbers,  address  or  description;  nor  for  risk  of  craft,  hulk  or  transshipment;  nor  for  any  loss  or  damage  caused  by  the  prolongation  of  the  voyage, 
and  that  the  carrier  shall  not  be  concluded  as  to  correctness  of  statements  herein  of  quality,  quantity,  gauge,  contents,  weight  and  value.  General 
average  payable  according  to  York-Antwerp  Rules.  If  the  owner  of  the  Bteamer  shall  have  exercised  due  diligence  to  make  said  steamer  in  all 
respects  seaworthy  and  properly  manned,  equipped  and  supplied,  it  is  hereby  agreed  that  in  case  of  danger,  damage  or  disaster  resulting  from  fault 
or  negligence  of  the  pilot,  master  or  crew  in  the  navigation  or  management  of  the  steamer,  or  from  latent  or  other  defects,  or  unseaworthiness  of 
the  steamer,  whether  existing  at  time  of  shipment,  or  at  the  beginning  of  the  voyage,  but  not  discoverable  by  due  diligence,  the  consignees  or  owners 
of  the  cargo  shall  not  be  exempted  from  liability  for  contribution  in  General  Average,  or  for  any  special  charges  incurred,  but,  with  the  ship- 
owner, Bhall  contribute  in  General  Average,  and  shall  pay  such  special  charges,  as  if  such  danger,  damage  or  disaster  had  not  resulted  from  such 
fault,  negligence,  latent  or  other  defects  or  unseaworthiness. 

IT  IS  ALSO  MUTUALLY  AGBEBD  that  this  shipment  is  subject  to  all  the  terms  and  provisions  of,  and  all  the  exemptions  from  liability  contained  in,  the 
Act  of  Congress  of  the  United  States,  approved  on  the  13th  day  of  February,  189S,  and  entitled,  "An  Act  relating  to  the  navigation  of  vessells,  etc." 
TT  IS  ALSO  MUTUALLY  AGREED  that  the  value  of  each  package  receipted      and  charge!  so  incurred. 

7. — ALSO,  that  if  on  a  aale  of  the  goods  at  destination  for  freight  and  chargea. 
the  proceed!  fail  to  cover  aaid  freight  and  chargei,  the  carrier  shall  be  entitled  to 
recover   the   difference   from  the  shipper. 

8. — ALSO,  that  full  freight  ia  payable  on  damaged  or  unsound  goods;  bat  no 
freight  is  due  on  any  increase  in  balk  or  weight  caused  by  the  absorption  of  water 
during   the   voyage. 

9. — ALSO,  that  is  the  event  of  claims  for  short  delivery  when  the  steamer 
reaches  her  destination,  the  price  shall  be  the  cost  price  at  port  of  shipment  on  the 
day   the   steamer   sailed  plus  freight  and  insurance. 

10. — ALSO,  that  merchandise  on  wharf  awaiting  shipment  or  delivery  be  at 
shipper's  risk  of  loss  or  damage  not  happening  through  the  fault  or  negligence  of 
the  owner,  master,  agent  or  manager  of  the  steamer,  any  custom  of  the  port  to  the 
contrary  notwithstanding. 

11. — ALSO,  that  in  the  event  of  any  part  of  the  goods  not  being  found  for 
delivery  during  the  Steamer'a  stay,  at  port  of  destination  aaid  goods  may  be  for- 
warded or  replaced  at  .Ship's  expense  but  owner's  risk.  It  being  agreed  that  the 
Steamer  shall  not  be  liable  for  any  claim  for  such  detention  or  otherwise. 

12. — ALSO,  that  in  the  event  of  a  blockade  or  any  other  cause  preventing  the 
landing  of  the  goods  at  the  port  of  destination  the  master  shall  have  the  option  of 
landing  them  at  any  other  near  port  or  of  bringing  them  back  to  port  of  shipment 
as  he  may  consider  advisable,  and  in  event  of  then*  being  brought  back  to  port  of 
shipment  the  freight  for  the  round  voyage  shall  be  double  the  amount  agreed  upon 
for  outward  voyage. 

13. — ALSO,   that  prepaid  freight  shall  not  be  returned,    ship   lost   or  not   lost. 
14. — ALSO,  that  goods  transshipped  under  this  Bill  of  Lading,  are  subject  to   all 
the   conditions    and   exceptions   noted   above   and   are  at   owner's   risk   while   on   dock. 
in  store,   and  on  lighters. 


for  as  above  does  not  exceed  the  sum  of  One  Hundred  Dollars  unless  otherwise 
■tated  herein,  on  which  basis  the  rate  of  freight  is  adjusted. 

2. — ALSO,  that  the  carrier  shall  not  be  liable  for  articles  specified,  in  Section 
4881  of  the  Revised  Statutes  of  the  United  States,  unless  written  notice  of  the 
true  character  and  value  thereof  is  given  at  the  time  of  lading  and  entered  in  the 
bill  of   lading. 

8. — ALSO,  that  shippers  shall  he  liable  for  any  loss  or  damage  to  steamer  or 
cargo,  caused  by  inflammable,  explosive  or  dangcroua  goods,  shipped  without  full 
disclosure  of  their  nature,  whether  such  shipper  be  principal  or  agent;  and  such 
goods  may  be   thrown  overboard  or  destroyed  at  any   time   without   compensation. 

4. — ALSO,  that  the  carrier  shall  have  a  lien  on  the  goods  for  all  freights, 
primages  and  charges,  and  also  for  all  fines  or  damages  which  the  steamer  or  cargo 
may  incur  or  suffer  by  reason  of  the  illegal,  incorrect  or  insufficient  marking,  num- 
bering or  addressing  of  packages  or  description  of  their   contents. 

5. — ALSO,  that  in  case  the  steamer  shall  be  prevented  from  reaching  her  desti- 
nation by  Quarantine,  the  carrier  may  discharge  the  goods  into  any  depot  or 
lazaretto,  and  auch  discharge  shall  be  deemed  a  final  delivery  under  this  contract, 
and  all  the  expenses  thereby  incurred  on  the  goods  shall   be  a  lien  thereon. 

6. — ALSO,  that  the  Steamer  may  commence  discharging  immediately  on  arrival 
and  discharge    continuously.    Day,    Night,    Sundays    and    Holidays,    any    custom    of   the 

rMBll  to  the  contrary  notwithstanding,  the  Collector  of  the  port  being  hereby  author- 
ed to  grant  a  general  order  for  discharge  immediately  on  arrival,  and  if  the  goods 
be  not  taken  from  the  steamer  by  the  consignee  directly  they  come  to  hand  in 
discharging  the  steamer,  the  master  or  steamer's  agent  to  be  at  liberty  to  enter  and 
land  the  goods,  or  put  them  into  craft  or  store  at  the  owner's  risk  and  expense, 
when  the  goods  shall  be  deemed  delivered  and  steamer's  responsibility  ended,  but 
the  steamer  and  carrier  to  have  a  lien  on  such  goods  until  the  payment   of  all  costs 


AND  FINALLY,  in  accepting  this  Bill  of  Lading,  the  Shipper,  Owner  and  Consignee  of  the  goods  and  the  Holder  of  the  Bill  of  Lading  agree 
to  be  bound  by  all  of  itB  stipulations,  exceptions  and  conditions,  whether  written  or  printed,  as  fullv  as  if  they  were  all  signed  by  such  Shipper, 
Owner,  Consignee  or  Holder.  * 

In  Witness  Whereof*,  the  Master  or  Agent  of  the  said  steamship  hath  affirmed  to _._ „._Bills  of  Lading,  all  of  this  tenor  and  date,  one  of 

which  being  accomplished,  the  others  to  Btand  void. 


Dated  In     NEW    YORK, 


diy  of.... 


For  Agents. 


Specimen  of  Ocean  Bill  of  Lading 


Specimen  of  Ocean  Bill  of  Lading 


i. .  i 

l;     BNlVhRfel"1  V 


IKCCClVvO,   in  apparent  good  order  and  condition,  by  the 


from.. 


now  lying  in  the  port  of  NEW  YORK 


thereto  as   she   may   safely   get)    with  liberty   to  call   at  any   port  or  ports  in  or  out  of  the  customary   route,  or  failing  shipment  by  said 


O.P  V  3  E* 

ft  £  E  l » 

3  „,  o  P  p 

3  P  3-  <<  £ 

p  cr  „  S 

2.  -i  o  o  3/  O-  3 

2"  rr  3  If,  3"  •»  3' 


lbs.  gross  weight 

shipper's  weight  (quality,  quantity,  gauge,  contents,  weight  and  value  unknown),  and  to  be  delivered  in  like  good  order  and  condition  at 
ressly  understood  that,  if  Steamer  discharges  in  Rotterdam,  Goods  engaged  for  Amsterdam  are  to  be  forwarded  thence  to  Amsterdam,  and, 
engaged  for  Rotterdam  are  to  be  forwarded  thence  to  Rotterdam,  in  all  cases  at  Shipper's  Risk,  but  at  Ship's  expense,  provided  such 
the   Bill   of  Lading  is  signed,   and   provided   Canal   Navigation  is  open,   but   Steamship  Company   not  bound  to  forward   by   Railroad),  unto 

I  KUST    (jOIVI  PAN  Yi    or  to  his  or  their  assigns,  he  or  they  paying  freight,  primage  and  charges  immediately  on  discharge  of  the  goods,  without 

_ GROSS  INTAKEN  WEIGHT  Minimum  freight  $10.00. 

steamer  shall  have  liberty  to  sail  with  or  without  pilots;  that  the  carrier  shall  have  liberty  to  convey  goods  in  craft/or  lighters  to  and  from 
is;  and,  in  case  the  steamer  shall  put  into  a  port  of  refuge,  or  be  prevented  from  any  cause  from  proceeding  in  the  ordinary  course  of  her  voyage,  to 
my  other  steamer;  that  the  carrier  shall  not  be  liable  for  loss  or  damage  occasioned  by  perils  of  the  sea  or  other  waters,  by  fire  from 
y  of  the  master  or  crew;  by  enemies,  pirates  or  robbers;  by  arrest  and  restraint  of  Princes,  rulers  or  people,  riots,  strikes,  or  stoppage  of 
ge  of  shaft,  or  any  latent  defect  in  hull,  machinery  or  appurtenances,  or  unseaworthiness  of  the  steamer,  whether  existing  at  time  of  ship- 
ided  the  owners  have  exercised  due  diligence  to  make  the  steamer  seaworthy;  by  heating,  frost,  decay,   putrefaction,   rust,  sweat,  change  of 

or  by  explosion  of  any  of  the  goods,  whether  shipped  with  or  without  disclosure  of  their  nature,  or  any  loss  or  damage  arising  from  the 
:ages;  nor  for  land  damage;  nor  for  the  obliteration,  errors,  insufficiency  or  absence  of  marks,  numbers,  address  or  description;  nor  for  risk  of 
or  damage  caused  by  the  prolongation  of  the  voyage,  and  that  the  carrier  shall  not  be  concluded  as  to  correctness  of  statements  herein  of 
value.  General  Average  according  to  York  and  Antwerp  rules  of  1890.  If  the  owner  of  the  said  steamer  shall  have  exercised  due  diligence  to 
r  and  properly  manned,  equipped  and  supplied,  it  is  hereby  agreed  that  in  case  of  danger,  damage  or  disaster  resulting  from  fault  or  negli- 
m  or  management  of  the  steamer  or  from  latent  or  other  defects  or  unseaworthiness  of  the  steamer  whether  existing  at  the  time  of  shipment 
icoverable  by  due  diligence,  the  consignees  or  owners  of  the  cargo  shall  not  be  exempted  from  liability  for  contribution  in  General  Average 
ny  special  charges  incurred,  but  the  shipowner  shall  contribute  in  General  Average  and  shall  pay  such  special  charges  as  if  such  danger,  damage  or  disaster 
ttent  or  other  defects  or  unseaworthiness.     Shippers  and  consignees  by  accepting  this  bill  of  lading  expressly  waive  and  renounce  article   700 

'  when  on  the  ground  to  bring  the  ship  afloat  {including  towage  and/or  lighterage,  etc.)  even  if  the  ship  and  cargo  were  not  in  immediate  or  prospective  peril,  to 

\nee  and  for  holders  of  the  bills  of  lading  hereby  agree  to  contribute. 

shall  be  decided  in  the  U.  S.  A.  or  in  the  Netherlands  according  to  the  laws  of  the  United  States  of  A merica  as  administered  in  the  United  States  or  to  the  laws 

is  excluding  any  Proceedings  before  foreign  courts. 

aat  this  shipment  is  subject  to  all  the  terms  and  provisions  of,  and  all  the  exemptions  from  liability  contained  in,  the  Act  of  Congress  of 

'ebruary,  1893,  and  entitled  "An  Act  relating  to  the  navigation  of  vessels,  etc." 

r,  consignee  and/or  assigns  of  all   risks  directly  or  indirectly  arising  from  war  or  hostilities  between  any   Powers,  and  in  addition  to  other 

I  in  order  to  avoid  any  such  risks  or  danger  thereof  to  vessel,  or  any  cargo  or  persons  on  board  to  delay  sailing,  or,  either  before  or  after 

,  to  proceed  or  return  to  any  other  port  convenient  lor  the  ship  and  there  await  or  make  delivery  of  the  goods,  full  bill  of  lading  freight 


1  that  unless  a  higher  value  be  stated  herein,  the 
ot  exceed  $ioo  per  package,  and  that  the  freight 

I  declaration  or  agreement  shall  be  evidence  of  a 
L  In  computing  any  liability  for  negligence  or 
>isr,  regarding  any  property  hereby  receipted  for 
ther  than  the  invoice  cost  not  exceeding  $ioo  Per 
y  stated  herein),  nor  shall  the  shipowner  be  held 
'al   damages,   and   the   shipowner   shall   have   the 

ble  for  articles  specified  in  Section  4281  of  the 
tten  notice  of  the  true  character  and  value  thereof 

II  of  Lading. 

ny  loss  or  damage  to  steamer  or  cargo,  caused  by 
ipped  without  full  disclosure  of  their  nature, 
such  goods  may  he  thrown  overboard  or  destroyed 

en  on  the  goods  for  all  freights,  primages  and 
h  the  steamer  or  cargo  may  incur  or  suffer  by 
lumbering  or  addressing  of  packages  or  descrip- 

be  prevented  from  reaching  her  destination  by 
into  any  depot  or  lazaretto,  and  such  discharge 
,  and  all  the  expenses  thereby  incurred  on  the  goods 

\e  discharging  immediately  on  arrival  and  dis- 
of  the  port  to  the  contrary  notwithstanding,  the 
ant  a  general  order  for  discharge  immediately  on 
]eamer's  deck  by  the  consignee  directly  they  come 
'■  the  steamer's  agent  to  be  at  liberty  to  enter  and 
ke  owner's  risk  and  expense,  when  the  goods  shall 
ded  the  carrier  not  to  be  responsible  for  any  loss 
'ighler,  warehouse,  sheds  or  loading  quay,  but 
oods  until  the  payment  of  all  costs  and  charges 
e  of  freight,  to  a  port  beyond  ROTTERDAM  or 
tcharge  to  its  destination  at  the  Ship's  expense,  but 

'.  destination  for  freight  and  charges,  the  proceeds 
:r  shall  be  entitled  to  recover  the  difference  from 

\amaged  or  unsound  goods;  but  no  freight  is  due 
'orption  of  water  during  the  voyage. 


o. — ALSO,  that  merchandise  on  wharf  awaiting  shipment  be  at  owner's  risk  of  loss  or  damage 
the  carrier  not  to  be  responsible  for  any  loss  or  damage  to  the  goods  during  their  stay  in  lighter,  warehouse, 
sheds  or  loading  quay. 

10. — ALSO,  that  this  bill  of  lading,  duly  endorsed,  be  given  up  to  the  steamer's  consignee  in 
exchange  for  delivery  order. 

11. — -ALSO,  that  freight  prepaid  will  not  be  returned,  goods  lost  or  not  lost. 

12. — ALSO,  that  parcels  for  different  consignees  collected  or  made  up  in  single  packages  addressed 
to  one  consignee,  pay  full  freight  on  each  parcel. 

13. — ALSO,  where  goods  are  weighed  or  measured  on  board  to  ascertain  Freight,  the 
charges  for  weighting,  &c,  to  be  paid  by  the  Consignee,  and  the  carrier  to  have  a  lien  on  the 
Goods  for  such  charges.  The  consignees  or  the  party  applying  for  their  Goods  are  to  see  that  they  get 
their  right  marks  and  numbers,  and  after  the  Lighterman  or  Wharfinger,  or  the  party  applying 
for  the  Goods  has  signed  for  same,  the  Ship  and  the  owners  are  respectively  discharged  from  all 
responsibility  for  mis-delivery  or  non-delivery.  The  Ship  to  be  entitled  to  commence  discharging 
immediately  she  arrives,  and  to  continue  discharging  without  intermission  day  and  night.  Any 
bags  belonging  to  the  ship  not  to  leave  from  alongside.  The  company  has  the  privilege  of 
reweighing  or  remeasuring  the  goods  at  Rotterdam  or  Amsterdam  at  consignee's  expense  when  done 
at  his  request,  or  when  the  weight  or  measurement  proves  to  be  in  excess  of  that  stated  in  bill  of  lading, 
and  freight  at  the  same  rate  is  due  on  any  excess.  Captain  has  privilege  of  collecting  Ihe  freight  on 
on  landing  of  the  goods  before  delivery. 

14- — ALSO,  in  case  the  Vessel  is  prevented  from  reaching  Rotterdam  or  Amsterdam,  by  ice 
or  otherwise,  the  privilege  is  reserved,  at  the  Vessel's  expense,  but  without  Vessel's  risk,  to  dis- 
charge and  store  the  within  merchandise  at  either  Hook  of  Holland,  Flushing,  Zierikzee,  Brouwers- 
haven,  Willemslad,  Hellevoet,  Nieuwediep,  or  Ymuiden,  to  be  forwarded  to  Rotterdam  or 
Amsterdam  by  lighters  at  the  Vessel's  expense,  but  without  Vessel's  risk,  as  soon  as  practicable. 

I5> — ALSO,  Sterling  freight  to  be  paid  at  the  quoted  short  exchange  on  London,  on  the  dale 
of  the  Steamer's  report  at  the  Custom  House,  and  dollar  freiiht  at  the  rate  of  two  and  a  half  Guilders 
to  the  Dollar. 

16. — ALSO,  that  single  packages  exceeding  2  tons  in  weight,  shall  be  liable  to  pay  extra  charges, 
if  any,  for  loading,  handling,  transhipping  or  discharging.  Also  that  the  steamer  or  any  of  the 
servants  of  the  company  shall  not  be  liable  for  any  damage  or  loss  occurring  from  any  accident 
in  loading,  handling,  discharging  or  transshipping,  if  packages  exceeding  2  tons  in  weight,  and  in 
case  of  any  damage  or  loss  resulting  to  the  steamer,  cargo,  lighters,  cranes,  or  hoisting  tackle,  owing 
to  incorrect  weight  having  been  declared,  the  shipper's  and/or  consignees  of  such  cargo  shall  be  responsible 
for  such  loss  or  damage. 

17. — ALSO,  Steamer  has  the  right  to  carry  cargo  on  deck. 

18. — ALSO,  full  freight  is  to  be  Paid  on  barrels  whether  full,  part  full  or  empty. 

19. — ALSO,  that  Steamer  shall  not  be  liable  for  splits,  shakes  or  breakage  10  lumber  and  logs. 

20. — ALSO,  that  no  claim  shall  under  any  circumstances  whatever  attach  to  the  ship  or  her  owners 
for  failure  to  notify  consignees  or  any  other  party  of  arrival  of  goods. 


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owed  together  with  other  grain  without  separation,  either  from  the  same    or  other  shipper  each  bill  or  lading   to  bear 
any. 

Lading,  the  Shipper,  Owner  and  Consignee  of  the  goods  and  the  Holder  of  the  Bill  of  Lading,  agree  to  be  bound  by  all  of  its  stipulations,  exceptions  and 
fs  if  they  were  all  signed  by  such  Shipper,  Owner,  Consignee  or  Holder. 

nt  or  the  said  steamship  had  affirmed  to Bills  of  Lading,  all  of  this  tenor  and  date,  one  of  which  being  accomplished,  the  others  to 


FUNCH,  EDYE  &  CO.  Agents. 


By.. 


55.5  »  S  m 
"5,3  1  M  c 

w    a  v~ 

3  §  °  h  s< 


Holland-America  Line 

REGULAR     MAIL    SERVICE 

BETWEEN 

NEW  YORK 


AND 


ROTTERDAM-AMSTERDAM 


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W-§8 


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o-oHs.t; 
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AGENTS  IN  NEW  YORK 

HOLLAND-AMERICA  LINE 

GENERAL  AGENCY,   24  STATE   STREET. 

PUNCH,  EDYE  &  CO.,  Freight  Agents. 

8  BEIDOE  3TEEET. 


Goods  engaged  for 


These  Goods  are  destined  for 
at 


Freight  at  S per $ 

Charges f 

Total,  * 


Holland-America    Line 

to  be  transported  by  the  steamship., 

and  bound  for   ROTTERDAM,  (or  as  nea 
steamer  in  and  upon  a  following  steamer. 


being   marked  and  numbered  as  per  margin, 
the  aforesaid  port  of  destination,  (it  being  exi 
if   Steamer   discharges   at    Amsterdam,    goods 
engagement   be  declared   in   the  margin   before 

THE  NETHERLANDS  OVER  SEA 


any  allowance  of  credit  or  discount,  at  the  rate  o 

IT  IS  MUTUALLY  AGREED  that  the 
the  steamer  at  the  risk  of  the  owners  of  the  goo' 
transship  the  goods  to  their  destination  by  I 
any  cause  or  whatsoever  occurring;  by  barratt 
labor;  by  explosion,  bursting  of  boilers,  break 
raent,  or  at  the  beginning  of  the  voyage,  pro 
character,  drainage,  leakage,  breakage,  vermin 
nature  of  the  goods  or  the  insufficiency  of  pac 
craft,  hulk  or  transshipment;  nor  for  any  loss 
quality,  quantity,  gauge,  contents,  weight  and  \ 
make  the  said  steamer  in  all  respects  seaworth 
gence  of  the  pilot.  Master  or  crew  in  the  navigati 
or  at  the  beginning  of  the  voyage  but  not  dit 
including  allowances  and  expenses  to  the  ship  or  for  a 
had  not  resulted  from  such  fault,  negligence,  I 
of  the  Dutch  Commercial  code. 

All  costs,  sacrifices  and  expenditures  incurrex 
be  considered  as  General  Average  to  which  the  consi\ 

All  questions  arising  under  this  bill  of  lading 
of  the  Netherlands  as  administered  in  the  Netherlan 

IT  IS  ALSO  MUTUALLY  AGREED  { 
the  United  States,  approved  on  the  13th  day  of  I 

This  shipment  is  at  sole  risk  of  shippe 
liberties  herein  contained,  the  ship  is  privilege 
proceeding  to  or  toward  the  port  of  discharge 
being  payable  upon  such  delivery. 

i.— IT  IS  ALSO  MUTUALLY  AGREED 

value  of  the  Property  hereby  receipted  for  does  n 
has  been  adjusted  on  such  valuation,  and  no  ora 
different  provision  or  of  a  waiver  of  this  clausl 
otherwise,  by  the  shipowner  as  carrier  or  other\ 
no  value  shall  be  placed  on  the  said  property  h 
package  {or  such  other  value  as  may  be  express* 
liable  for  any  profits  or  consequential  or  spec- 
option  of  replacing  any  lost  or  damaged  goods. 

2.—ALS0.  that  the  carrier  shall  not  be  lid 
Revised  Statutes  of  the  United  States,  unless  wri 
is  given  at  the  time  of  lading,  and  entered  in  the  Bi 

3. — ALSO,  that  shippers  shall  be  liable  for  t 
inflammable,  explosive  or  dangerous  goods,  sh 
whether  such  shipper  be  Principal  or  agent;  and, 
at  any  lime  without  compensation. 

4. — ALSO,  that  the  carrier  shall  have  a  It 
charges,  and  also  for  all  fines  or  damages  whit 
reason  of  the  incorrect  or  insufficient  marking,  1 
tion  of  their  contents. 

5. — ALSO,  that  in  case  the  steamer  shallf 
Quarantine,  the  carrier  may  discharge  the  goods 
shall  be  deemed  a  final  delivery  under  this  contract 
shall  be  a  lien  thereon. 

6. — ALSO,  that  the  steamer  may  comment 
charge  continuously,  day  and  night,  any  custom 
collector  of  the  port  being  hereby  authorized  to  gr 
arrival  and  if  the  goods  be  not  taken  from  the  s 
to  hand  in  discharging  the  steamer  the  master  ot 
land  the  goods,  or  Put  them  into  craft  or  store  at  1 
be  deemed  delivered  and  steamer's  responsibility  e 
or  damage  to  the  goods  during  their  stay  in 
the  steamer  and  carrier  to  have  a  lien  on  such 
so  incurred.  Merchandise  taken  on  a  through  ra 
AMSTERDAM,  is  forwarded  from  the  port  of  di- 
al shipper's  risk. 

•r. — ALSO,  that  if  on  a  sale  of  the  goods  a 
fail  to  cover  said  freight  and  charges,  the  carri 
the  shipper. 

8.— ALSO,  that  full  freight  is  payable  on  < 
on  any  increase  in  bulk  or  weight  caused  by  the  abs 


21. — ALSO,  that  where  grain  is  st 
its  proportion  of  loss  and/or  damage,  If 

AND  FINALLY,  in  accepting  this  Bill  of 
conditions,  whether  written  or  printed,  as  fully  e 

In  Witness  whereof,  the  Master,  or  Ag< 
stand  void. 

Dated  in  NEW  YORK, 


Kn 


1  s 


TP 


[  11  1 


No.      197419 
"Wiixcox,  Peck  <Sfc  Hughes 

(IhiS  18  tO  dCrtffa,  That  on  the-J^*^  i2&«Vrday  of     ^^^  !•»«» 

there  was  insured  with 

CyMCWWAMVVv  cWvAWM-V  \yVrvfyy\vvvV 

for  account  of  3{w  6r*rW  ^JfyVr'  ^^fWC'vVW 

<D->vcJum^c(A^cC(/O0J    BALES  COTTON,   valued  at  sum  insured,  per 


at  and  from 


SdkvtitW,  ta**4  ^     S^Vv^r^  f    ^AV^frVvv^ 


order 


It  is  hereby  understood  and  agreed  that,  in  case  of  loss,  such  loss  is  payable  to  the 
oi  Jkt/  CUjMAA^C  J   g  6n  surrender  of  this  Certificate,  which  repre- 

sents and  takes  the  place  of  the  Policy,  and  conveys  all  the  rights  of  the  Original  Policy- 
holder, (for  the  purpose  of  collecting  any  claims  for  loss  or  damage),  as  fully  as  if  the 
property  were  covered  by  a  special  "policy  direct  to  the  holder  hereof,  and  is  free  from 

•  '.     J  u  [^ 

any  liability  for  unpaid  premiums. 


P*  ". 


Not  valid  unless  countersigi 


By  Authority  of  Ihl  Abort  Named  Insurance  Companies 

Willcox,  Pko^ct;         iUGHES 

president 


f\C2 
JB 


MARKS  AND   NUMBERS 


fid 


CLAUSES 

"This  certificate  U  subject  to  the  full  terms  of  the  policy  in  respect   of   being   warranted    free   of    capture,   seizure   and   detention,   and 


risk   )■   covered    hereunder   on    shore   in   any   European   country   which   it 


, .>    operation*,    whether    befoi 

"With   the   exception   of    risks    In    the    United    Kingdoi 
at  war  at  time  of  shipment" 

ON  COTTON"— To  pay  particular  average  on  each  ten  bales  as  if  separately  insured,  if  amounting  to  three  per  eent.  unless  otherwise 
■  greed,  and  on  shipments  to  Europe  to  pay  sea  damage  pickings  claims  without  reference  to  series  or  amount.  General  Average  and 
Salvage   Charges   payable   according    to   Foreign    Statement   or   per    York/Antwerp   Rules,   if  in   accordance  with   the   contract   of  affreightment. 

Also  to  cover  the  risk  of  country  damage  on  shipments  insured  hereunder  to  Europe,  Japan,  China,  India  or  Manila,  subject  to 
settlement  at  destination,  in  accordance  with  customs  and  usages  of  the  port  of  destination,  unleas  otherwise  specified  in  certificate,  but  no 
claim  for  loss  of  or  damage  to  cotton  picked  or  reconditioned  in  the  United  States  nor  for  any  coat  or  expense  in  respect  of  such  picking 
or  reconditioning  shall  be  recoverable  hereunder.  Country  damage  is  not  covered  on  cost  and  freight  shipments  and  local  sales  nor  on 
shipments   to   points   in    the    United    Statea   or    Canada    or    Mexico. 

LINTERS.   Subject   to   3%    particular   sverage   on   each    bale,   but   free   from   claim   for   country   damage. 

Cotton   pickings  or   grabbots,   free  of   particular  average   unleas  the    vessel    be    stranded,    sunk,    burred    or   in    collision. 

In   the   event   of    loss   or    damage   to   the   cotton    insured    hereunder,   immediate    notice  to   be  given   to  the   companies  as  named   hereon. 

Including  risk  of  craft,  Ac.  to  and  from  the  vessel,  each  craft  or  lighter  being  deemed  a  separate  insurance.  Held  covered  in  case  of 
deviation   or   change   of   voyage,   or   transfer   to    other   steamers    at   a    premium' to  be  arranged,   provided  node*  be  given  on  receipt  of  advices. 

This   Certificate  is  issued   subject  to   the   terms  and   conditions   of    the    policy,    except    so    far    as    herein    otherwise    provided 

NOTICE— To  conform  with  the  Revenue  Uws  of  Great  Britain,  in  order  to  collect  a  claim  under  this  Certificate,  it  must  ho 
stamped   within  Ten   Days   after   its   receipt   in   the    United   Kingdom. 


Marine  Insurance  Certificate 


[  12] 


WAR    RISK    POLICY  (C) 

INCORPORATED   1865. 


No. 


...48.82.. 


ST.  PAUL  FIRE  &  MARINE  INSURANCE  COMPANY, 

WILLIAM  H,  McGEE  &  CO.,  General  Agents  Marine  Department,  77  Beaver  Street,  New  York. 


.191 


QbiS  Certifies  That  in  consideration  of  premium  as  agreed  to  be  paid,  this  Company  does  insure 
„ „ in  the  sum  of 

_ _ Dollars, 


on. 


Valued  at  sum  hereby  insured. 


Per. 


CO 

< 

..L«..  from ... 

-o - 

Cti 

nefCha 


Jiug  tne: 


hereon  upon 


To _ 

loss,  if  any,  payable  to  the  order  of 
surrender  of  this  policy. 

Beginning  the  adventure  upon  the  said  goods  and  merchandise  from  the  loading  Cfiereof  on  board  the  said  vessel  as  above, 
and  shall  so  continue  and  endure  during  her  abode  there,  and  until  the  vessel  with  her  goods  and  merchandise  shall  be  arrived 
as  above  and  be  there  discharged  and  safely  landed.  {«■« 

This  insurance  covers  only  the  risk  of  capture.  seizu«Wkor  destruction  or  damage  by  men  of  war,  by  letters  of  mart,  by 
takings  at  sea.  arrests,  restraints,  detainments  and  acts  ofSwTigs,  princes  and  people,  authorized  by  and  in  prosecution  of  hostili- 
ties between  belligerent  nations;  but  excluding  claims  fSKlelay,  deterioration  and/or  loss  of  market  and  warranted  not  to 
abandon  in  case  of  capture,  seizure  or  detention,  until  afteTtoudemnation  of  the  property  insured,  nor  until  sixty  days  after 
notice  of  said  condemnation  is  given  to  these  Assurers.  Also  warranted  not  to  abandon  in  case  of  blockade,  and  free  from  any 
claim  for  loss  or  expense  in  consequence  of  blockade,  or  oyfcsy  attempt  to  evade  blockade;  but  in  event  of  blockade  to  be  at 
liberty  to  proceed  to  an  open  port,  and  there  end  the  voyajoik 


MARKS  AND  NUMBERS. 


This  policy  is  issued  under  and  in  pursuance 
of  the  Laws  of  the  State  of  Minnesota  relating 
to  guaranty  Surplusand  Special  Reserve  fundB. 


WARRiMiED  no  German,  Austrian  or  Turkish  Ownership,  interest,  con- 
signee or  destitution ;  and  warranted  free  of  condemnation  on  the  ground  of  such 
Ownership,  intnest,  consignee  or  destination. 

In  case  of  preemption  or  requisition  by  any  belligerent  nation,  market  value  at 
time  and  port  of  shipment,  plus  ten  per  cent  and  any  prepaid  freight,  to  be  taken 
as  the  insured  value;  unless  a  lower  value  is  elsewhere  stated  herein,  in  which 
event  claims  shall  be  adjusted  on  such  lower  value. 

Warranted  that  the  bills  of  lading  shall  show  the  name  and  address  of  the 
neutral  consignee. 

Warranted  covering  while  water-borne  only,  and  excluding  any  risks  on  land. 

Warranted  no  cancellation  nor  short  interest. 

In  case  of  loss,  such  loss  to  be  paid  in  thirty  (30)  days  after  full  proofs  of  loss, 
and  proofs  of  interest  are  exhibited  to  the  assurers. 

In  case  of  claim  under  this  policy,  immediate  notice  thereof  is  to  be  given  to 
Wm.  H.  McGee  &  Co.,  77  Beaver  Street,  New  York  City,  or  to  W.  K.  Webster  &  Co., 
2  Lime  Street  Square.  London. 

And  in  case  of  any  loss  or  misfortune,  it  shall  be  lawful  and  necessary  to  and  for 
the  assured,  his  or  their  factors,  servants  and  assigns,  to  sue,  labor  and  travel  for, 
in  and  about  the  defense,  safeguard  and  recovery  of  the  said  goods  and  merchandises, 
or  any  part  thereof,  without  prejudice  to  this  insurance;  nor  shall  the  acts  of  the 
insured  or  insurers,  in  recovering,  saving  and  preserving  the  property  insured,  in 
case  of  disaster,  be  considered  a  waiver  or  an  acceptance  of  an  abandonment  to  the 
charges  whereof,  the  said  assurers.will  contribute  according  to  the  rate  and  quantity 
of  the  sum  herein  insured. 


In  Witness  Whereof,  the  St.   Paul  Fire  &  Marine  Insurance  Company  has  caused  this  policy  to  be 
signed  by  its  President,  but  it  shall  not  be  valid  unless  countersigned  by  Wm.  H.  McGee  &  Co.,  General 

Agents,  at  New  York,  or  by , 


Countersigned  this . 


day  of ,  191.. 


President. 


NOTICE. — To  conform  with  the  Revenue  Laws  of  Great  Britain,  in  order  to  collect  the  claim  under  this  policy,  it  must  be 
stamped  within  ten  days  after  its  receipt  in  the  United  Kingdom. 


War  Risk  Certificate 

Great  care  must  be  taken  in  ascertaining  that  the  clauses  of  each  certificate  cover  the  prescribed  risks 


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PAYABLE  with  exchange    and   all 
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Commercial  Draft  for  Export  of  Merchandise  to  British  Colonies 
Stipulating  that  all  Costs  are  to  be  Paid  by  the  Consignees 

When  drafts  are  issued  on  commercial  firms  instead 
of  bankers,  the  shipper  gives  instructions  as  to 
whether  the  documents  are  to  be  delivered  against 
"Acceptance"  or  "Payment.'" 


[  15  ] 


(  wtfiA6c%m4&  <wc^  $<suzitnus . 


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Ordinary  Commercial  Drafts  in  Dollars  for  Export  of  Merchandise 
from  this  Country  to  South  America 


[  16  ] 


New  York, 191 


iFjJftUra  de  mercancias  embarcadas  por 


a  bordo  de con  destino  a 

(.Name  of  Vessel) 


por  cuenta  y  riesgo  de 

y  a  la  consignation  de. ^ 


(or  who's  account  ond  risk  shipment  is  rnndei 
(Consieijee) 


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VALUE 

_ 

Declaro  que  soy  el de  las  mercancias  relacionadas  en  la  presente  factiira  y  que 

son   ciertos   los   precios   y   demas   particulares  que  en   ella   se  consignan,  *y   que    las    mercancias    contenidas   en   dicha 
factura  son  productos  del  suelo  6  de  la  industria  de  los  Estados  Unidos  de  America. 

•If  merchandise  shipped  i*  from  any  country,  other  than  ihe  United  States,  remainder  of  above  declaration  should  be  cancelled. 

Declaro  que  soy  el  Agente  autorizado  por  Don que  ha  suserito  la  anterior 

declaraci6n,  para  presentar  esta  factura  en  la  Oficina  Consular  de  Cuba  en  esta  plaza,  a  fin  de  que  sea  certifienda. 


Consular  Invoice  for  Shipment  of  Merchandise 
from  the  United  States  to  Cuba 


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[ FRONT ] 

Reimbursement  through  Dollar  Drafts  on  New  York 


[  19  ] 


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[ FRONT ] 

Reimbursement  through  Sterling  Draft  on  our  London  Office 


[  21  ] 


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SPECIFICATION 

OK    ALL    PAYMENTS    MADE    UNDER    THIS    LETTER    OF    CREDIT. 
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22  ] 


Commercial  Letters  of  Credit 
Payable  in  Dollars 

A  copy  of  this  letter  is  forwarded  to  the  shipper  abroad 
of  goods  to  be  imported  into  the  United  States.  On 
presentation  of  this  letter  of  credit  to  any  of  the  local 
banks  he  is  able  to  negotiate  a  draft,  details  of  which 
have  to  be  in  accordance  with  the  terms  specified  in  the 
letter  of  credit. 

Needless  to  state,  a  bank  before  issuing  such  a  L/C 
must  be  satisfied  as  to  the  moral  and  financial  responsi- 
bility of  its  customer,  because  the  transaction  involves 
the  granting  of  credit  secured  by  merchandise  during 
time  of  shipment.  This  period  may  extend  over  several 
months  and  in  the  interval  considerable  fluctuations  in 
the  value  of  the  mei'chandise  may  take  place. 

This  is  the  typical  form  of  the  Dollar  Letter  of  Credit 
and  there  is  no  reason  why, as  far  as  our  own  imports  are 
concerned,  we  should  not  in  the  future  avail  ourselves 
exclusively  of  this  type  of  L/C. 


[  23] 
Guaranty  Trust  Company  of  New  York 

Foreign  Department 

New  York, MaJchJOth, ig  JG^ 

Chino-Russian  Export  Corporation 


Shanghai. 


Gentlemen: 

We  hereby  authorize  you  to  value  on  Guaranty  Trust  Company  of  New  York,  New  York, 
for  account  of  American  Import  Company,  New  York. 

up  to  an  aggregate  amount  of         Tenthousand  Dollars 

available  by  your  drafts  at         Fmr  months  si9ht 

against  shipment  of         raw  silk to__NewYork 

Insurance  ft  Warrisk  effected  in  New  York 

Bills  of  lading  for  such  shipments  must  be  made  out  to  the  order  of  the  Guaranty  Trust  Company 
of  New  York,  unless  otherwise  specified  in  this  credit. 

CONSULAR  INVOICE  AND  ONE  BILL  OF  LADING  MUST  BE  SENT  BY  THE  BANK  OR  BANKER  NEGOTIATING 
DRAFTS  DIRECT  TO  GUARANTY  TRUST   COMPANY   OF  NEW   YORK,    NEW   YORK. 

The  remaining  documents  must  accompany  the  drafts  drawn  on  Guaranty  Trust  Company  of  New  York, 
New  York. 

The  amount  of  each  draft,  negotiated,  together  with  date  of  negotiation,  must  be  endorsed  on  back 
hereof. 

We  hereby  agree  with  bona  fide  holders  that  all  drafts  drawn  by  virtue  of  this  Credit  and  in  accordance 
with  the  above  stipulated  terms  shall  meet  with  due  honor  upon  presentation  at  the  Office  of  Guaranty  Trust 
Company  of  New  York,  New  York,  if  drawn  and  negotiated  prior  to 

Guaranty  Trust  Company  of  New  York, 


N.  B.  Drafts  drawn  under  this  Credit  must  state 
that    they    are    "drawn    under    Letter    of 

Credit  No 

Dated " 


Commercial  Letter  of  Credit  payable  in  Dollars 
[  FIRST  PAGE  1 


I  24  ] 
Agreement  to  be  Signed  by  the  Customer  of  the  Bank 


New  York, 19 

To  the 

Guaranty  Trust  Company  of  New  York 

Gentlemen: 

Having   received  from    you    the    Letter    of    Credit    on account    of   which    a    true 

copy  is  on  the  other  side,  ,  hereby  agree  to  its  terms,  and  in  consideration  thereof  agree  with  you 
to  provide  in  New  York,  one  day  previous  to  the  Maturity  of  the  Bills  drawn  in  virtue  thereof,  sufficient 

funds  in  cash,  to  meet  the  payment  of  the  same  with per  cent  commission, 

and  ,  undertake  to  insure  at  expense,  for  your  benefit,  against  risk  of  Fire  or  Sea,  all  property 
purchased  or  shipped  pursuant  to  said  Letter  of  Credit,  in  Companies  satisfactory  to  you. 

ry  agree  that  the  title  to  all  property  which  shall  be  purchased  or  shipped  under  the  said  credit, 
the  bills  of  lading  thereof,  the  policies  of  insurance  thereon  and  the  whole  of  the  proceeds  thereof,  shall 
be  and  remain  in  you  until  the  payment  of  the  bills  referred  to  and  of  all  sums  that  may  be  due  or  that 
may  become  due  on  said  bills  or  otherwise,  and  until  the  payment  of  any  and  all  other  indebtedness  and 
liability  now  existing  or  now  or  hereafter  created  or  incurred  by  to  you  on  any  and  all  other  transac- 
tions now  or  hereafter  had  with  you,  with  authority  to  take  possession  of  the  same  and  to  dispose  thereof 
at  your  discretion  for  your  reimbursement  as  aforesaid,  at  public  or  private  sale,  without  demand  or 
notice,  and  to  charge  all  expenses,  including  commission  for  sale  and  guarantee. 

Should  the  market  value  of  said  merchandise  in  New  York,  either  before  or  after  its  arrival,  fall 

so  that  the  net  proceeds  thereof  {all  expenses,  freight,  duties,  etc.,  being  deducted)  woidd  be  insufficient 

to  cover  your  advances  thereagainst  with  commission  and  interest,    ,  further  agree  to  give  you  on  demand 

any  further  security  you  may  require,  and  in  defaidt  thereof  you  shall  be  entitled  to  sell  said  merchandise 

forthwith,  or  to  sell  "to  arrive,"  irrespective  of  the  maturity  of  the  acceptances  under  this  Credit, 

beinq  held  responsible  to  you  for  any  deficit,  which        bind  and  obliqe  ,      to  pay  iiou  in  cash  on 

3  r  &       j  a     j  yjg  a    ourselves       r  "  " 

demand. 


Commercial  Letter  of  Credit  payable  in  Dollars 
[  SECOND  PAGE  ] 


[  25  ] 

In  case    ,    should  hereafter  desire  to  have  this  credit  confirmed,  altered  or  extended  by  cable 

(which  will  be  at  expense  and  risk),  ,  hereby  agree  to  hold  you  harmless  and  free  from  responsi- 
bility from  errors  in  cabling,  whether  on  the  part  of  yourselves  or  your  Agents,  here  or  elsewhere,  or  on 
the  part  of  the  cable  companies. 

This  obligation  is  to  continue  in  force,  and  to  be  applicable  to  all  transactions,  notwithstanding 
any  change  in  the  composition  of  the  firm  or  firms,  parties  to  this  contract  or  in  the  user  of  this  credit, 
whether  such  change  shall  arise  from  the  accession  of  one  or  more  new  partners,  or  from  the  death  or 
secession  of  any  partner  or  partners. 

It  is  understood  and  agreed  that  if  the  documents  representing  the  property  for  Which  the  said 
Credit  has  been  issued  are  surrendered  under  a  trust  receipt,  collateral  security  satisfactory  to  the  Trust 
Company,  such  as  stocks,  bonds,  warehouse  receipts  or  other  security,  shall  be  given  to  the  Trust  Company, 
to  be  held  until  the  terms  of  the  credit  have  been  fully  satisfied  and  subject  in  every  respect  to  the  conditions 
of  this  agreement. 

It  is  further  understood  and  agreed  in  the  event  of  any  suspension,  or  failure,  or  assignment 
for  the  benefit  of  creditors  on  part,  or  of  the  nonpayment  at  maturity  of  any  acceptance  made  by 
,  or  of  the  nonfulfillment  of  any  obligation  under  said  credit  or  under  any  other  credit  issued  by  the 
Guaranty  Trust  Company  of  New  York  on      J  account,  or  of  any  indebtedness  or  liability  on  part 

to  you,  all  obligations,  acceptances,  indebtedness  and  liabilities  whatsoever  shall  thereupon,  at  your  option 
then  or  thereafter  exercised,  without  notice,  mature  and  become  due  and  payable. 

It  is  understood  and  agreed  that  you  shall  not  be  held  responsible  for  the  correctness  or  validity 

of  the  documents  representing  shipment  or  shipments,  nor  for  the  description,  quantities,  quality  or 

value  of  the  merchandise  declared  therein. 

(Signature)-  _— . 


Commercial  Letter  of  Credit  payable  in  Dollars 
[  THIRD  PAGE  ] 
This  agreement  is  signed  in  order  to  safeguard  the  bank  against 
possible  depreciation  in  the  value  of  the  merchandise,  and 
gives  the  bank  the  right  to  dispose  of   the  merchandise, 
if  the  terms  of  the  contract  are  not  maintained. 


I  26] 


<u^ 


■HHM9 


^r< 


This  acceptance  is  based  upon  a  transaction 
4^5l3  involving  the  importation  or  exportation  of 

~*S  \Y~Clf ..?&&*>  GUARANTY  TRUST  CO.  OF  NEW  YORK 


V_3w  ^^ U^-C)  ' 


Aju 


'^nJo 


Draft  drawn  against  Dollar  Commercial  Letter  of  Credit  after 
presentation  in  New  York  and  acceptance  by  the  Bank 

Sometimes  it  is  customary  to  mention  in  the  body  of  the  draft  such 
phrases  as: 

"Drawn  under  L/C   G.  T.  Co.  No. 

s 
"Drawn  against  shipment  500  Bags  of  Coffee  SS  ." 

c       c 
or  other  specifications. 

This,  however,  is  not  necessary,  and  in  order  to  demonstrate  to 
future  holders  that  the  draft  is  drawn  to  cover  a  self-liquidating 
merchandise  transaction  a  stamp  is  affixed  as  shown  on  specimen. 
The  various  shipping  documents  originally  attached  to  this  draft 
are  retained  by  the  accepting  bank. 


[27  1 


Commercial  Letter  of  Credit 
available  by  drawings  in  Sterling  on  London 

This  form  (as  shown  on  pages  29,  30  and  31)  was  the 
standard  form  of  L/C  previous  to  the  enactment  of  the 
Federal  Reserve  Law  and  the  outbreak  of  the  European 
War. 

Most  of  the  international  transactions  were  financed 
in  this  way  and  American  bankers  and  merchants 
had  to  use  and  pay  for  the  services  of  London  banks 
and  bankers. 


[  29  ] 

Credit  No 


Guaranty  Trust  Company  of  New  York 

Foreign  Department 


New  York, March  mh< ] 


16 

new    ±oi"K, : i» 

Sumatra  Trading  Society 


Padang 


Gentlemen : 

We  hereby  authorize  you  to  value  on  the  Guaranty  Trust  Company  of  New  York,  33  Lombard  St. 

London,  for  account  of American  Tobacco  Corporation 

up  to  an  aggregate  amount  of Fiflythousand  -pounds  Sterling 

available  by  your  drafts  at Ninetydays^sight 

against  shipment  of TobaCCO to NeW  ¥ork 

t„c,,,^^  &  Warrisk  Certificates 


Bills  of  Lading  for  such  shipments  must  be  made  out  to  the  order  of  the  Guaranty  Trust  Company 
of  New  York,  unless  otherwise  specified  in  this  credit. 

CONSULAR  INVOICE  AND  ONE  BILL  OF  LADING  MUST  BE  SENT  BY  THE  BANK  OK  BANKER  NEGOTIATING 
DRAFTS,  DIRECT  TO  THE  GUARANTY  TRUST  COMPANY  OF  NEW  YORK,  NEW  YORK,  UNDER  ADVICE  TO  GUARANTY 
TRUST  COMPANY    OF  NEW  YORK,    LONDON. 

The  remaining  documents  must  accompany  the  drafts  drawn  on  Guaranty  Trust  Company  of  New 
York,  LONDON. 

The  amount  of  each  draft,  negotiated,  together  with  date  of  negotiation,  must  be  endorsed  on  back 
hereof. 

We  hereby  agree  with  bona  fide  holders  that  all  drafts  drawn  by  virtue  of  this  Credit,  and  in  accordance 
with  the  above  stipulated  terms,  shall  meet  with  due  honor  upon  presentation  at  the  Office  of  the  Guaranty 
Trust  Company  of  New  York,  London,  if  drawn  and  negotiated  prior  to 

Guaranty  Trust  Company  of  New  York, 


N.  B.  Drafts  drawn  under  this  Credit  must  state 
that    they    are    "drawn    under    Letter   of 

Credit  No 

Dated " 


Commercial  Letter  of  Credit 

available  by  drawings  in  Sterling  on  London 

[  FIRST  PAGE  ] 


[30] 
Agreement  to  be  Signed  by  the  Customer  of  the  Bank 


New  York, 19 

To  the 

Guaranty  Trust  Company  of  New  York 

Gentlemen: 

Having  received  from  you  the  Letter  of  Credit  of  which  a  true  copy  is  on  the  other  side,  ,  hereby 
agree  to  its  terms,  and  in  consideration  thereof  agree  with  you  to  provide  in  New  York,  twelve  days 
previous  to  the  Maturity  of  the  Bills  drawn  in  virtue  thereof,  sufficient  funds  in  cash,  or  in  Bills  on 
London,  satisfactory  to  you,  at  not  exceeding  sixty  days'  sight,  and  endorsed  by      ,  to  meet  the  payment 

of  the  same  with per  cent  commission  and  interest  as  hereinafter  provided, 

and  undertake  to  insure  at  expense,  for  your  benefit,  against  risk  of  Fire  or  Sea,  all  property 
purchased  or  shipped  pursuant  to  said  Letter  of  Credit,  in  Companies  satisfactory  to  you. 

tit  agree  that  the  title  to  all  property  which  shall  be  purchased  or  shipped  under  the  said  credit, 
the  bills  of  lading  thereof,  the  policies  of  insurance  thereon  and  the  whole  of  the  proceeds  thereof,  shall 
be  and  remain  in  you  until  the  payment  of  the  bills  referred  to  and  of  all  sums  that  may  be  due  or  that  may 
become  due  on  said  bills  or  otherwise,  and  until  the  payment  of  any  and  all  other  indebtedness  and  liability 
now  existing  or  now  or  hereafter  created  or  incurred  by  ,  to  you  on  any  and  all  other  transactions  now 
or  hereafter  had  with  you,  with  authority  to  take  possession  of  the  same  and  to  dispose  thereof  at  your 
discretion  for  your  reimbursement  as  aforesaid,  at  public  or  private  sale,  without  demand  or  notice,  and 
to  charge  all  expenses,  including  commission  for  sale  and  guarantee. 

Should  the  market  value  of  said  merchandise  in  New  York,  either  before  or  after  its  arrival,  fall 
so  that  the  net  proceeds  thereof  (all  expenses,  freight,  duties,  etc.,  being  deducted)  would  be  insufficient  to 
cover  your  advances  thereagainst  with  commission  and  interest,  further  agree  to  give  you  on  demand 
any  further  security  you  may  require,  and  in  default  thereof  you  shall  be  entitled  to  sell  said  merchandise 
forthwith,  or  to  sell  "to  arrive,"  irrespective  of  the  maturity  of  the  acceptance  under  this  Credit,  being 
held  responsible  to  you  for  any  deficit,  which    (  bindand  oblige  m,jse-j   to  pay  youin  cash  on  demand. 


Commercial  Letter  of  Credit 

available  by  drawings  in  Sterling  on  London 

[  SECOND  PAGE  ] 


[31  ] 

It  is  understood  that  in  all  payments  made  by  to  you  in  the  United  States,  the  Pound  Sterling 
shall  be  calculated  at  the  current  rate  of  exchange  for  Bankers'  Bills  in  New  York  on  London  existing 
at  the  time  of  settlement,  and  that  interest  shall  be  charged  at  the  rate  of  five  per  cent  per  annum,  or  at  the 
current  Bank  of  England  rate  in  London  if  above  five  per  cent. 

Should  anticipate  the  payment  of  any  portion  of  the  amount  payable,  interest  is  to  be  allowed 
at  a  rate  one  per  cent  under  the  current  Bank  of  England  rate. 

In  case  should  hereafter  desire  to  have  this  credit  confirmed,  altered  or  extended  by  cable 
{which  will  be  at  my  expense  and  risk),  ,  hereby  agree  to  hold  you  harmless  and  free  from  responsi- 
bility from  errors  in  cabling,  whether  on  the  part  of  yourselves  or  your  Agents,  here  or  elsewhere,  or  on  the 
part  of  the  cable  companies. 

This  obligation  is  to  continue  in  force,  and  to  be  applicable  to  all  transactions,  notwithstanding 
any  change  in  the  composition  of  the  firm  or  firms,  parties  to  this  contract  or  in  the  user  of  this  credit, 
whether  such  change  shall  arise  from  the  accession  of  one  or  more  new  partners,  or  from  the  death  or 
secession  of  any  partner  or  partners. 

It  is  understood  and  agreed  that  if  the  documents  representing  the  property  for  which  the  said 
Credit  has  been  issued  are  surrendered  under  a  trust  receipt,  collateral  security  satisfactory  to  the  Company, 
such  as  stocks,  bonds,  warehouse  receipts  or  other  security,  shall  be  given  to  the  Company,  to  be  held  until 
the  terms  of  the  credit  have  been  fully  satisfied  and  subject  in  every  respect  to  the  conditions  of  this  agree- 
ment. 

It  is  further  understood  and  agreed  in  the  event  of  any  suspension,  or  failure,  or  assignment 
for  the  benefit  of  creditors  on  part,  or  of  the  nonpayment  at  maturity  of  any  acceptance  made  by 
,  or  of  the  nonfulfillment  of  any  obligation  under  said  credit  or  under  any  other  credit  issued  by  the 
Guaranty  Trust  Company  of  New  York  on  account,  or  of  any  indebtedness  or  liability  on  part 
to  you,  all  obligations,  acceptances,  indebtedness  and  liabilities  ichatsoever  shall  thereupon,  at  your 
option  then  or  thereafter  exercised,  without  notice,  mature  and  become  due  and  payable. 

It  is  understood  and  agreed  that  you  shall  not  be  held  responsible  for  the  correctness  or  validity 

of  the  documents  representing  shipment  or  shipments,  nor  for  the  description,  qiiantities  or  quality  of  the 

merchandise  declared  therein 

(Signature) 


Commercial  Letter  of  Credit 

available  by  drawings  in  Sterling  on  London 

[  THIRD  PAGE  ] 


[32] 


l&^u  %n>  22/ 


3M3C.  'Y'o 


._— Jhis  acceptance  is  based  upon  a  transaction 

~JZ^* — ^-rfy^npg  the  importation  or  exportation  of 

^  XT^igel^y         GUARANTY  TRUST  CO.  OF  NEW  YORK. 


OS    Xt^o-  J/cnJU 


llti^-u  x$sv**^jc£j  V-  x$  ryi^o 


^jn^UiJ^    K.  J'o 


Draft  drawn  against  Sterling  Letter  of  Credit 
after  acceptance  by  the  London  Bank 

To  this  draft  are  attached  the  various  shipping 
documents  specified  in  L/C;  these  documents  are 
retained  by  the  accepting  bank  in  London  and 
forwarded  to  its  American  correspondent. 


[33  ] 


jL&l 


/i-SL<. 


^ 


>sfC 


Ctf^d-Sfcu.  /^Uuxf 


Form  of  Bank  Acceptance  not  based  on  Imports  or  Exports 

of  the  United  States 

Such  an  acceptance  may  be  secured  by  adequate 
collateral  in  the  form  of  warehouse  receipts  or 
other  documents  representing  staple  products, 
negotiable  securities,  etc. 


[34  ) 


ACCEPTANCE    AGREEMENT 


-,  191. 


For  and  in  consideration  of  the  acceptance  by  GUARANTY  TRUST  COMPANY  OF 

NEW  YORK,  of  my /our  draft  on  it  numbered. dated 

payable for Dollars 

($ ),  and  all  other  drafts  which  may  hereafter  be  accepted  by  the  Guaranty  Trust 


Company  of  New  York  at  my  our  request,  I/we  hereby  deposit  with  and  assign  and  transfer  to  said 
Trust  Company  as  collateral  security  for  the  payment  of  said  drafts  at  maturity,  as  well  as  for  the 
payment  of  any  and  every  debt  or  liability  of  every  nature  from  the  undersigned  to  said  Trust 
Company. 


with  such  additional  collaterals  as  may  from  time  to  time  be  required  by  any  of  the  officers  of  said 
Trust  Company,  and  which  the  undersigned  hereby  promises  to  furnish  on  demand.  And  the 
undersigned  hereby  gives  to  said  Trust  Company,  or  its  assigns,  full  power  to  sell,  assign  and  deliver 
the  whole  or  any  part  of  said  collaterals,  or  any  substitutes  therefor,  or  any  additions  thereto,  at  any 
Brokers'  Exchange  or  elsewhere  at  public  or  private  sale,  at  the  option  of  such  holder,  on  the  non- 
performance of  any  of  the  promises  herein  contained,  and  without  notice  of  amount  due  or  claimed 
to  be  due,  without  demand  of  payment,  without  advertisement  and  without  notice  of  the  time  or 
place  of  sale,  each  and  every  of  which  is  hereby  expressly  waived;  and  on  any  such  sale  the  Trust 
Company,  its  assigns  or  any  of  the  officers  of  said  Trust  Company,  may  purchase  on  its  own  account 
and  without  further  accountability  except  for  the  purchase  price  thereof,  the  whole  or  any  part  of 
the  property  sold  free  from  any  right  of  redemption  on  the  part  of  the  undersigned,  which  right  is 
hereby  waived  and  released. 

It  is  further  agreed,  that  any  surplus  arising  from  the  sale  of  said  collaterals,  beyond  the 
amount  due  hereon,  shall  be  applicable  upon  any  claim  of  the  said  Trust  Company  arising  directly 
or  by  assignment  against  the  undersigned  at  the  time  of  said  sale,  whether  the  same  be  then  due  or 
not  due. 

And  it  is  further  agreed,  that  any  moneys  or  properties,  at  any  time,  in  the  possession  of 
GUARANTY  TRUST  COMPANY  OF  NEW  YORK,  belonging  to  any  of  the  parties  liable  hereon 
to  said  Trust  Company,  and  any  deposits,  balance  of  deposits  or  other  sum  at  any  time  credited  by 
or  due  from  said  Trust  Company  to  any  of  said  parties,  shall  at  all  times  be  held  and  treated  as 
collateral  security  for  the  payment  of  any  other  obligation,  indebtedness  or  liability  of  the  under- 
signed to  the  said  Trust  Company,  whether  due  or  not  due,  and  said  Trust  Company  may  at  any 

[II 


I  35  ] 

time,  at  its  option,  set  off  the  amount  due  or  to  become  due  hereon  or  any  other  obligations  against 
any  claim  of  any  of  said  parties  against  said  Trust  Company. 

And  I/we  also  agree  to  place  said  Trust  Company  in  possession  of  sufficient  funds  in  cash 
previous  to  the  maturity  of  said  draft,  and  of  any  other  drafts  which  the  said  Trust  Company 
may  hereafter  from  time  to  time  accept  to  meet  the  maturity  of  said  draft  or  drafts  respectively, 
together  with  commission  as  agreed  and  any  interest  which  may  accrue  thereon,  calculated  at 
the  rate  of  six  per  cent.  (6%)  per  annum.  Any  and  all  drafts  or  bills  of  exchange  now  or  here- 
after delivered  by  me/us  to  said  Trust  Company  to  be  collected  shall  be  delivered  to  and  received 
by  it  as  security  for  said  acceptance  or  acceptances  without  impairing  in  any  way  my/our  obligation 
hereunder  to  place  said  Trust  Company  in  funds  before  the  maturity  of  said  acceptance  or  accept- 
ances as  aforesaid,  and  all  documents  relating  to  such  bills  for  collection  shall  likewise  be  held 
and  received  by  said  Trust  Company  as  security  with  the  privilege  of  delivering  same  to  drawees 
upon  acceptance  or  acceptances  unless  instructions  to  the  contrary  shall  be  attached  to  each  bill. 

The  said  Trust  Company  shall  have  the  right  to  apply  the  proceeds  of  such  collections 
against  the  payment  of  said  acceptance  or  acceptances  and  of  any  other  indebtedness  due  or  to 
become  due  from  me/us. 

It  is  expressly  agreed  that  I/we  assume  all  responsibility  for  the  collection  of  drafts  or  bills 
delivered  as  aforesaid  and  for  any  loss,  costs  or  expense  suffered  or  incurred  by  said  Trust  Company 
in  connection  therewith,  and  that  said  Trust  Company  shall  be  held  free  of  responsibility  for,  and 
my /our  obligation  to  place  said  Trust  Company  in  funds  as  aforesaid  shall  not  be  affected  or  impaired 
by,  any  default,  neglect,  suspension,  insolvency  or  bankruptcy  of  any  correspondent  or  sub-agent 
to  whom  said  bills  or  drafts  may  be  entrusted  for  collection  or  for  any  delay  in  remittance,  loss  in 
exchange,  or  the  loss  of  the  said  drafts  or  bills  or  their  proceeds  during  transmission  or  in  the  course 
of  their  collection,  and  I/we  expressly  agree  to  assume  all  responsibility  for,  and  that  my/our  said 
obligation  to  said  Trust  Company  shall  not  be  affected  or  impaired  by,  the  non-payment  of  any 
bills  of  exchange  which  may  be  received  by  said  Trust  Company  or  by  any  collecting  bank,  agent 
or  sub-agent  in  payment  of  such  drafts  or  bills  of  exchange. 

I/we  also  assume  all  responsibility  of,  and  said  obligation  to  place  said  Trust  Company 
in  funds  shall  not  be  affected  or  impaired  by,  any  risk  or  error  in  the  course  of  transmission  of  tele- 
grams and  cablegrams  or  the  loss  of  letters  or  other  documents  which  may  be  sent  in  connection 
with  the  said  drafts  or  bills  for  collection. 

I/we  also  agree  that  in  the  event  that  any  of  the  said  Trust  Company's  correspondents, 
agents  or  sub-agents  for  collection  of  said  drafts  or  bills  shall  advise  it  that  any  of  said  drafts  or  bills 
are  not  promptly  accepted  or  paid,  or  in  the  event  of  the  suspension,  failure  or  assignment  for  the 
benefit  of  creditors,  by  or  the  filing  of  a  petition  in  bankruptcy  against  the  drawee  or  the  drawees  of  any 
of  said  bills  for  collection,  that  I/we  will  immediately  upon  receipt  of  such  notice,  waiving  protest, 
and  notice  of  protest,  pay  or  cause  to  be  paid  to  said  Trust  Company  in  cash  the  face  amount  of 
any  such  draft  or  bill  for  collection  which  has  not  been  accepted  or  the  drawee  of  which  has  sus- 
pended, failed  or  assigned  or  against  whom  a  petition  in  bankruptcy  has  been  filed  as  aforesaid. 

In  the  event  of  my /our  suspension,  failure  or  assignment  for  the  benefit  of  creditors,  or  of 
a  petition  in  bankruptcy  being  filed  against  me/us,  or  the  non-fulfillment  of  any  obligation  here- 
under on  my/our  part  to  be  performed,  all  obligations  and  liabilities  to  said  Trust  Company  on 
my/our  part  shall  immediately,  without  notice,  accrue  and  mature  and  become  due  and  payable, 

[II] 


[36] 

and  it  is  also  agreed  that  in  either  of  those  events  said  Trust  Company  may  take  such  action  with 
respect  to  the  collection  of  any  or  all  of  said  drafts  and  bills  delivered  as  aforesaid  for  collection 
as  it  may  deem  advisable  to  protect  its  interests,  and  I/we  hereby  agree  to  indemnify  and  save 
said  Trust  Company  harmless  from  any  loss,  costs,  damage,  expense  (including  reasonable  attorneys' 
fees)  suffered  or  incurred  by  it  by  reason  of  such  action  or  by  reason  of  my /our  failure  to  perform 
any  of  the  obligations  arising  hereunder. 

This  obligation  shall  continue  in  force  and  remain  applicable,  notwithstanding  any  change 
in  the  individuals  comprising  our  firm,  whether  such  change  shall  arise  from  the  accession  of  one  or 
more  new  partners  or  from  the  death,  retirement  or  secession  of  any  partner  or  partners. 

All  rights  arising  under  this  agreement  shall  be  determined  according  to  the  laws  of  the  State 
of  New  York. 

(Signature) 


THE  ABOVE  AGREEMENT  is  required  to  pro- 
tect the  accepting  bank,  and  should  be  signed  by 
the  customer  in  whose  favor  an  acceptance  credit 
is  granted. 

(For    further   information    on    acceptances    see    our    special 
pamphlet  on  this  subject.) 


[Ill 


[37  1 


Trust  Receipt 


A  trust  receipt  is  sometimes  accepted  as  temporary 
collateral  from  responsible  customers  in  exchange  for 
shipping  documents  or  warehouse  receipts.  The  text 
(as  shown  on  following  pages)  is  self-explanatory  and 
must  of  course  conform  to  the  local  laws  and  customs. 


[  38  ] 

(To  Exchange  Documents  Against  Ocean  Bills  of  Lading) 

TRUST  RECEIPT 


New  York  City, 19     . 

SmUttU  from  the  GUARANTY  TRUST  COMPANY  OF  NEW  YORK  the  following  goods  and 
merchandise  specified  in  the  documents  described  below,  and  in  consideration  thereof  I/we  hereby  agree 
to  hold  said  goods  in  trust  for  it  and  as  its  property  and  to  deliver  over  to  the  said  Trust  Company  or  its 
assigns  the  ocean  bills  representing  the  goods  and  merchandise  described  below,  or  other  negotiable  docu- 
ments, or  the  proceeds  of  the  sale  of  the  goods  and  merchandise  set  forth  in  the  said  documents;  the 
delivery  herein  being  temporarily  made  to  me/us  for  convenience  only,  without  novation,  or  without 
giving  me/us  any  title  to  the  documents,  or  the  goods  and  merchandise  they  represent,  except  as  trustee 
and  agent  for  the  said  Trust  Company  and  except  to  effect  the  exchange  of  said  documents  for  ocean 
bills  of  lading,  or  to  receive  the  proceeds  thereof  for  the  account  of  said  Trust  Company. 

The  said  Trust  Company  may  at  any  time  cancel  this  trust  and  take  possession  of  said  goods  and 
merchandise  or  of  the  proceeds  of  such  of  the  same  as  may  then  have  been  sold,  wherever  the  said  goods 
and  merchandise  or  proceeds  thereof  may  then  be  found. 

The  said  goods  and  merchandise  while  in  my /our  hands  shall  be  fully  insured  against  loss  by  fire 
and  any  other  risk  that  said  goods  and  merchandise  may  be  subjected  to. 

I/we  hereby  agree  to  deliver  said  ocean  bills  of  lading,  or  to  pay  the  proceeds  arising  from  the  sale 
of  the  said  goods  and  merchandise,  to  the  said  Trust  Company  on  or  before 


Signed 


[  39  ] 

TRUST  RECEIPT 


(DOCUMENTS  FOR  WAREHOUSING) 


j&etSXVtb  from  The  Guaranty  Trust  Co.  of  New  York  Bill  of  Lading  per. 


dated for  the  following  goods   and   merchandise, 

their  property,  marked  and  numbered  as  follows: 


imported  under  the  terms  of  Letter  of  Credit  No .issued  by  them  for]  —  [account 

ime)  'ourj 

the  said  bill  of  Lading  to  be  used  by  j  —  Y  for  the  sole  purpose  of  entering  the  above  described 

property  at  the  United  States  Custom  House  at  the  Port  of 

and  of  storing  the  same  in  the  name,  and  as  the  property,  of  the  said  The  Guaranty  Trust  Co. 

of  New  York,  and    subject    only  to    their  order,  ]  —  [  hereby    agreeing   to  so  store    the  said 

(  we  ) 

property  and  to  hand  the  storage  receipt  for  the  same  to  the  said  The  Guaranty  Trust  Co.  of 
New  York,  when  obtained. 

I  w~  f  ^^0  AGREE  to  fully  insure  said   property  against  fire,  the  loss,  if  any,  payable 

to  said  The  Guaranty  Trust  Co.  of  New  York,  and  to  hand  to  them  the  policies  of  insurance 
thereon. 

Dated 191 

(Signed) 


[  40  ] 

TRUST  RECEIPT 


Received     from    The    Guaranty   Trust    Co.    of   New   York    the    following    goods 

and  merchandise,  their  property,  specified  in  the  Bill  of  Lading  per  S.S 

Dated marked  and  numbered  as  follows: 


and,    in     consideration     thereof,  <  • —   \  hereby    agree    to    hold    said    goods    in    trust   for 

[  we   I 

them,    and    as   their   property,    with   liberty   to   sell   the   same   for   their   account,    and   further 

agree,    in   case   of   sale,  to   hand    the   proceeds   to   them    to   apply   against   the   acceptances   of 

The    Guaranty   Trust    Co.    of   New   York    on  i  —  t  account,    under    the    terms   of    the 

(  our  ) 

Letter  of    Credit    No issued   for  \  —  [  account    and    for    the    payment    of    any 

(      •       1  (  our  ) 

\  mine  / 

other  indebtedness  of  -,  f  to  The  Guaranty  Trust  Co.  of  New  York. 

(  ours  ) 

The  Guaranty  Trust  Co.  of  New  York  may  at  any  time  cancel  this  trust  and  take 

possession  of  said  goods,  or  of  the  proceeds  of  such  of  the  same  as  may  then  have  been  sold, 

wherever  the  said  goods  or  proceeds  may  then  be  found  and  in  the  event  of  any  suspension, 

or  failure,  or  assignment    for  the   benefit   of   creditors,  on  i   — -   >  part,   or   of    the    non-fulfill- 

(  our  ) 

ment    of    any    obligation,    or    of    the    non-payment   at    maturity    of    any    acceptance    made    by 

-,  —   >  under  said  credit,  or  under   any  other  credit  issued    by  The  Guaranty  Trust  Co. 

us    '  (  )  (       '  / 

of    New   York    on  i  — -    >  account    or    of    any    indebtedness    on  -s   — -   >■  part    to    them,    all 
(  our  )  (  our  ) 

obligations,    acceptances,    indebtedness    and    liabilities    whatsoever    shall    thereupon    (with    or 
without    notice)    mature    and    become    due    and    payable.      The    said    goods    while    in  ■< 


our 


hands  shall  be  fully  insured  against  loss  by  fire. 

Dated,  New  York  City 191_ 

(Signed) , 

£  Stg. 


This  form  of  Trust  Receipt  is  used  when  the 
merchandise  is  to  be  held  by  the  customer 


[  41  ] 

TRUST  RECEIPT 


(FOR  DELIVERY  TO  PURCHASER) 


"KecetVCfc   from  The  Guaranty  Teust  Co.  of  New  York  the  following  goods  and 

merchandise,  their  property,  specified  in  the  Bill  of  Lading  per ,  dated 

marked  and  numbered  as  follows: 


In  trust  to  deliver  the  same  to 

who  have  purchased  the  same  for 

payable   in 


and  to  obtain  from  the  purchaser  the  proceeds  of  the  sale  of  the  same. 

In    consideration  of    the  delivery  of    said    goods    to  -j  —  \  in   trust  as   above,  \  —  [  agree 

(  us  )  (  we) 

to  deliver  them  immediately  to  the  said  purchasers,  and  to  collect  the  proceeds  of  sale,  and  immedi- 
ately deliver  such  proceeds  to  The  Guaranty  Trust  Co.  of  New  York  in  whatever  form  collected, 

to  be  applied  by  them  against  the  acceptances  of  The  Guaranty  Trust  Co.  of  New  York  on  <  —  [■ 

(my)  (our> 

account,  under  the  terms  of  Letter  of  Credit  No issued  for  -j  —  ■  account,   and 

...  /  our  ) 

to  the  payment  of  any  other  indebtedness  of  j        -  [  to  The  Guaranty  Trust  Co.  of  New  York. 

(  ours  J 

It  is  understood,  however,  that  if  such  proceeds  be  in  notes  or  bills  receivable,  they  shall  not  be 

so  applied  until  paid,  but  with  liberty  meanwhile  to  The  Guaranty  Trust  Co.  of  New  York 

to  sell  or  discount,  and  so  apply  net  proceeds. 

The  Guaranty  Trust  Co.  of  New  York  may  at  any  time  cancel  this  trust,  and  they  may 

take  possession  of  said  goods  until  the  same  have  been  delivered  to  said  purchasers  and  the  proceeds 

of  sale  received  from  them,  and  thereafter  of  such  proceeds,  wherever  the  said  goods  and  proceeds 

may  then  be  found,  and  in  the  event  of  any  suspension  or  failure  or  assignment  for  the  benefit  of 

my) 


creditors   on]  —  [part  or  of   the  non-fulfillment  of   any  obligation   or  of   the   non-payment   at 

(  0UF  '  line). 

maturity   of  any  acceptance   made    by  -,  —  !•  under  said    credit,  or    any    other  credit   issued    by 

•      (         )  i         ) 

The  Guaranty  Trust  Co.  of  New  York  on  -j  —  {■  account,  or  of  any  indebtedness  on  \  —  > 

(  our  I  '  our  I 

part  to  them,  all  obligations,  acceptances,  indebtedness,  and  liabilities  whatsoever  shall  thereupon 

(with  or  without  notice)  mature  and  become  due  and  payable. 

Dated 191 


[  42 


BAILEE  RECEIPT 

2J?r£ttieft  from  the  Guaranty  Trust  Company  of  New  York 

solely  for  the  purpose  of  selling  same  for  account  of  said  Company: 

marked  and  numbered 

and hereby  undertake  to  sell  the  property  herein  specified,   for 

account  of  the  said  Company,  and  collect  the  proceeds  of  the  sale  or  sales  thereof,  and  deliver 
the  same  immediately  on  receipt  thereof  to  the  said  Company,  to  be  applied  to  the  credit  of 

hereby  acknowledging to  be  Bailee  of  the  said  property  for  the  said 

Company,  and do  hereby  assign  and  transfer  to  the  said    Company 

the  accounts  of  the  purchaser  or  purchasers  of  said  property  to  the  extent  of  the  purchase  price 

thereof,  of  which  fact  notice  shall  be  given  at  the  time  of  delivery  of  the  said  property  by 

to  such  purchaser  or  purchasers  and  all  invoices  therefor  shall  have  imprinted,  written  or  stamped 
thereon  by the  following: 

"Transferred  and  payable  to  GUARANTY  TRUST  COMPANY  OF  NEW 
YORK,  UO  Broadway,  New  York." 

If  the  said  property  is  not  sold  and  the  proceeds  so  deposited  within  ten  days  from  this 

date undertake  to  return  all  documents  at  once  on  demand,  or  to  pay  the  value 

of  the  goods,  at  the  Company's  option. 

{  my  t 
The  said  goods  while  in  -  — -  >  hands  shall  be  fully  insured  against  loss  by  fire. 

The  terms  of  this  receipt  and  agreement  shall  continue  and  apply  to  the  merchandise 
above  referred  to  whether  or  not  control  of  the  same,  or  any  part  thereof,  be  at  any  time  restored 
to  the  Guaranty  Trust  Company  of  New  York,  and  subsequently  delivered  to  us. 


Dated  at  New  York  City, 191 


Currencies  of  Various  Countries  in  the  World 
and  their  Value  in  United  States  Dollars 


[  45  ] 

Currencies  of  Various  Countries  in  the  World 
and  their  Value  in  United  States  Dollars 

(All  these  rates  are  subject  to  exchange  fluctuations.) 


APPROXIMATE    EQUIVA- 

COUNTRY 

CURRENT    COIN 

NORTH  AMERICA 

LENT  IN  U.  S.  DOLLARS 

Canada 

Gold  Dollar 

$1. 

Mexico 

Peso 

0.498 

Newfoundland 

Gold  Dollar 

1.014 

St.  Pierre  &  Miquelon 

Same  as  France 
CENTRAL  AMERICA 

British  Honduras 

Gold  Dollar 

$1. 

Costa  Rica 

Colon 

0.465 

Nicaragua 

Silver  Peso 

0.40 

Guatemala 

Silver  Peso 

0.40 

Honduras 

Silver  Peso 

0.40 

Panama 

Gold  Balboa 

1. 

Silver  Peso 

0.50 

Salvador 

Silver  Peso 

0.40 

British  West  Indies 

Same  as  United  Kingdom 

Cuba 

Same  as  United  States 

Danish  West  Indies 

Franc 

0.193 

Gold  Dollar 

1. 

Dominican  Republic 

Gold  Dollar 

1. 

Dutch  West  Indies 

Same  as  The  Netherlands 

French  West  Indies 

Same  as  France 

Haiti 

Gold  Gourde 

0 .  965 

Porto  Rico 

Same  as  United  States 
SOUTH  AMERICA 

Argentina 

Gold  Peso 

$0,965 

Paper  Peso 

0.4246 

Bolivia 

Boliviano 

0.389 

Brazil 

Gold  Milreis 

0.546 

British  Guiana 

Gold  Dollar 

1.00 

Chile 

Gold  Peso 

0.365 

Paper  Peso 

0.2156 

[  46  ] 


Currencies  of  Various  Countries  in  the  World 


(All  these  rates  are  subject  to  exchange  fluctuations.) 

APPROXIMATE    EQUIVA- 

COUNTRY 

CURRENT   COIN 

SOUTH  AMERICA— Continued 

LENT  IN  U.  8.   DOLLARS 

i 

Colombia 

Gold  Dollar 

$1.00 

Dutch  Guiana 

Same  as  The  Netherlands 

Ecuador 

Sucre 

0.487 

Condor 

4.87 

French  Guiana 

Same  as  France 

Paraguay 

Paper  Peso  fluctuates  in  value 

Peru 

LIBRA  (£  sterling) 

4.8665 

Soles 

0.4866 

Uruguay 

Peso 

1.034 

Venezuela 

Bolivar 

EUROPE 

0.193 

Austria-Hungary 

Crown 

$0,203 

Belgium 

Franc 

0.193 

Bulgaria 

Lev 

0.193 

Denmark 

Kronor 

0.268 

Finland 

Finnish  Mark 

0.193 

France 

Franc 

0.193 

Germany 

Mark 

0.238 

Greece 

Gold  Drachma 

0.193 

Italy 

Lira 

0.193 

Malta 

Same  as  United  Kingdom 

Netherlands 

Florin  or  Guilder 

0.402 

Norway 

Kronor 

0.268 

Portugal 

Gold  Milreis 

1.08 

Roumania 

Lei 

0.193 

Russia 

Rouble 

0.515 

Servia 

Dinar 

0.193 

Spain 

Gold  Peseta 

0.193 

Silver  Peseta 

0.1794 

Sweden 

Kronor 

0.268 

Switzerland 

Franc 

0.193 

United  Kingdom 

Pound  Sterling 

4.8665 

Turkey 

Gold  Pound 

4.40 

[47] 


Currencies  of  Various  Countries  in  the  World 


(All  these  rates  are  subject  to  exchange  fluctuations.) 

APPROXIMATE    EQUIVA- 

COUNTRY 

CURRENT  COIN 

ASIA 

LENT  IN  U.  S.  DOLLARS 

British  India 

Rupee 

$0.3244% 

Ceylon 

Rupee 

0.3244% 

China 

Tael  (Shanghai) 

0.72 

Dutch  East  Indies 

Same  as  The  Netherlands 

French  Indo-China 

Silver  Piaster 

0.48 

Japan 

Yen 

0.498 

Persia 

Gold  Kran 

0.1704 

Silver  Kran 

0 . 0896 

Siani 

Gold  Tical 

0.3708 

Siberia 

See  Russia 

Straits  Settlements 

Dollar 

0.5677 

Australia  &  New  Zealand 

Same  as  United  Kingdom 

Philippine  Islands 

Peso 

0.50 

Samoa  (German) 

Mark 

0.238 

Society  Islands 

Franc 

AFRICA 

0.193 

Abyssinia 

Maria  Theresa  Dollar 

or  Menelik  Dollar 

$0,425 

Algeria 

Same  as  France 

Belgian  Kongo 

Same  as  Belgium 

British  South  Africa 

Same  as  United  Kingdom 

British  West  Africa 

do 

Egypt 

Egyptian  Pound 

4.943 

French  Africa 

German  Africa 

Italian  Africa 

Liberia 

Gold  Dollar 

1.00 

Madagascar 

Same  as  France 

Mauritius  &  Seychelles 

Rupee 

0.3244% 

Morocco 

French,  English  &  Spanishrnoney 

Portuguese  East  Africa 

Same  as  Portugal 

Portuguese  West  Africa 

Same  as  Portugal 

Tripoli 

Same  as  in  Turkey 

Tunis 

Same  as  France 

Zanzibar 

Rupee 

0.3244% 

•  *    •  -       f 


UNIVERSITY   OF  CALIFORNIA   LIBRARY 
BERKELEY 


THIS   BOOK   IS  DUE   ON   THE  LAST   DATE 

STAMPED  BELOW 

Books  not  returned  on  time  are  subject  to  a  fine  of 
50c  per  volume  after  the  third  day  overdue,  increasing 
to  $1.00  per  volume  after  the  sixth  day.  Books  not  in 
demand  may  be  renewed  if  application  is  made  before 
expiration  of  loan  period. 


WAR  7  1 

MAft  19  1919 
JUL  24  1923 

OCT  2V  1929 


50m-7,'16 


GAYLAMOUNT 
PAMPHLET  BINDER 

-^- 

Manufactured  by 
I  GAYLORD  BROS.  Inc. 

Syracuse,  N.  Y. 
Stockton,  Calif. 


^V-2-  7  S3 


(Six 


J 


